Bitcoin price is rising and trading above $23,000. BTC could gain bullish momentum if there is a clear move above the $23,500 resistance zone.
- Bitcoin is correcting losses and trading above the $23,000 support zone.
- The price is trading above $23,000 and the 100 hourly simple moving average.
- There was a break above a crucial bearish trend line with resistance near $23,000 on the hourly chart of the BTC/USD pair (data feed from Kraken).
- The pair could rise further and move into a bullish zone if it clears the $23,500 resistance.
Bitcoin Price Forms Decent Support
Bitcoin price remained well bid above the $22,500 support. A base was formed above $22,500 and BTC started a decent recovery wave. There was a clear move above the $22,800 and $23,000 resistance levels.
There was also a break above a crucial bearish trend line with resistance near $23,000 on the hourly chart of the BTC/USD pair. The pair climbed above the 23.6% Fib retracement level of the key decline from the $24,282 swing high to $22,599 low.Bitcoin price is trading above $23,000 and the 100 hourly simple moving average. An immediate resistance is near the $23,450 zone. It is near the 50% Fib retracement level of the key decline from the $24,282 swing high to $22,599 low.
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